Steady-state models are presented to describe the wastewater treatment process in two activated sludge systems. One of these makes use of a single complete-mix reactor; the other one involves two complete-mix reactors arranged in series. The in-series system is equivalent to what is known as the “two-phase” activated sludge, a concept which is now being launched throughout Poland in conjunction with the PROMLECZ technology under implementation. Analysis of the mathematical models has revealed the following: (1) treatment efficiency, excess sludge production, energy consumption, and the degree of sludge stabilization are identical in the two systems; (2) there exists a technological equivalence of “two-phase” sludge with “single-phase” sludge; (3) the “two-phase” system has no technological advantage over the “single-phase” system.